Canadian sales rebounded in March to C$358.8 millionEconomy

Canadian sales of regulated recreational cannabis hit an all-time high of almost 358.8 million Canadian dollars ($279.6 million) in March, according to Statistics Canada retail sales data released Thursday.

That figure represents a rebound of 10.7% from February’s marijuana sales, although March had three more days than February.

February sales were revised downward to CA$324.1 million, or roughly CA$12.3 million less than Statistics Canada previously reported.

Cannabis sales of nearly CA$145 million in Ontario comprised 40.4% of the national monthly total in March, increasing by 10.9% over February.

March cannabis sales in Alberta were worth CA$63.2 million, up 9.9% month-over-month.

In British Columbia, monthly sales increased by 21.3% over February to CA$56.2 million.

March retail sales and month-over-month increases in the remaining provinces were:

• Quebec: CA$42.5 million (+1.5%).
• Saskatchewan: CA$14.9 million (+1.5%).
• Manitoba: CA$13.9 million (+14.5%).
• Nova Scotia: CA$8.1 million (+14.4%).
• New Brunswick: CA$6.3 million (+9.3%).
• Newfoundland and Labrador: CA$5.2 million (+8.9%).
• Prince Edward Island: CA$1.8 million (+9%)

In Yukon Territory, monthly sales increased by 11.4% to CA$844,000.

Statistics Canada did not report monthly cannabis sales in Nunavut or the Northwest Territories.

SOURCE: MJBiz Daily